BlackRock Fund Advisors recently announced the acquisition of new stake in Marathon Petroleum Corporation (NYSE:MPC). The institutional investor has increased its shareholding in the Energy company by 25.81% to 41.68 million shares with purchase of 8.55 million shares. This fresh investment now brings its stake to 6.41% valued currently at $1.59 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 1.89 million to 36.77 million shares. And Wellington Management Co. LLP has lifted its position by 2.84% or 0.36 million shares – to 12.93 million shares.
With over 7.08 million Marathon Petroleum Corporation (MPC) shares trading Friday and a closing price of $37.09 on the day, the dollar volume was approximately $262.56 million. The shares have shown a positive weekly performance of 4.77% and its price on 08/28/20 gained nearly 6.03%. Currently, there are 650.00M common shares owned by the public and among those 647.01M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for MPC have a consensus price objective of $48.27. The analysts have set the share’s price value over the next 12 months at a high of $66.00 and a low of $35.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Marathon Petroleum Corporation stock is 2.10 for the next 12 months. The average price target is 23.64% above its last price level and an upside to the estimated low will see the stock lose -5.97% over that period. But an upside of 43.8% will see the stock hit the forecast high price target while mean target price for the stock is $48.00.
Insiders at the company have transacted a total of 90 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 62 of these insider trades were purchases, accounting for 878,258 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 224,335 shares.
The top 3 mutual fund holders in Marathon Petroleum Corporation are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and SPDR Series – Energy Select Secto. Vanguard Total Stock Market Index owns 18.49 million shares of the company’s stock, all valued at over $706.46 million. The company sold 56835.0 shares recently to bring their total holdings to about 2.84% of the shares outstanding. Vanguard 500 Index Fund sold 78679.0 shares to see its total holdings shrink to 13.41 million shares valued at over $512.23 million and representing 2.06% of the shares outstanding. SPDR Series – Energy Select Secto bought 72542.0 shares to bring its total holdings to over 10.66 million shares at a value of $407.19 million. SPDR Series – Energy Select Secto now owns shares totaling to 1.64% of the shares outstanding.
Shares of Marathon Petroleum Corporation (NYSE: MPC) opened at $35.16, up $0.18 from a prior closing price of $34.98. However, the script later closed the day at $37.09, up 6.03%. The company’s stock has a 5-day price change of 4.77% and 1.62% over the past three months. MPC shares are trading -38.44% year to date (YTD), with the 12-month market performance down to -23.62% lower. It has a 12-month low price of $15.26 and touched a high of $69.65 over the same period. Currently, 7.08 million shares have been traded, compared to an average intraday trading volume of 8.25 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.41%, 0.19%, and -12.48% respectively.
Institutional ownership of Marathon Petroleum Corporation (NYSE: MPC) shares accounts for 75.80% of the company’s 650.00M shares outstanding. Mutual fund holders own 37.43%, while other institutional holders and individual stakeholders account for 38.39% and 0.77% respectively.
It has a market capitalization of $22.76B and a beta (3y monthly) value of 2.09. The earnings-per-share (ttm) stands at -$11.90. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.02% over the week and 3.86% over the month.
Analysts forecast that Marathon Petroleum Corporation (MPC) will achieve an EPS of -$0.74 for the current quarter, -$0.54 for the next quarter and $1.01 for 2021. The lowest estimate earnings-per-share for the quarter is -$1.37 while analysts give the company a high EPS estimate of $0.73. Comparatively, EPS for the current quarter was $1.63 a year ago. Earnings per share for the fiscal year are expected to decrease by -24.80%, and 132.20% over the next financial year. EPS should shrink at an annualized rate of -2.07% over the next five years, compared to -2.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Marathon Petroleum Corporation (MPC) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 13 Wall Street analysts polled rate the stock as a buy, while 3 of the 17 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the MPC, a number of firms have released research notes about the stock. Cowen stated their Outperform rating for the stock in a research note on August 12, 2020, with the firm’s price target at $37-$43. Tudor Pickering coverage for the Marathon Petroleum Corporation (MPC) stock in a research note released on August 04, 2020 offered a Sell rating with a price target of $35. Citigroup was of a view on April 24, 2020 that the stock is Neutral, while Cowen gave the stock Market Perform rating on April 16, 2020, issuing a price target of $54- $29. CFRA on their part issued Sell rating on March 27, 2020.